Survey Prime Benchmark 1 July 2018

Transcription

1 Savills World Research Asia Pacifi c Survey Prime Benchmark 1 July 2018 savills.com.hk/research

2 SURVEY PRIME BENCHMARK Of Asia s Savills Asia Pacific Network 4 Australia Adelaide Brisbane Canberra Gold Coast Gordon Lindfield Melbourne Notting Hill Parramatta Perth Roseville St Ives Sunshine Coast Sydney Turramurra Cambodia Phnom Penh * China Beijing Chengdu Chongqing Dalian Guangzhou Hangzhou Nanjing Shanghai Shenyang Shenzhen Tianjin Wuhan Xiamen Xi an Zhuhai Hong Kong Central (2) Taikoo Shing (2) Tsim Sha Tsui India Bangalore Mumbai Gurgaon Indonesia Jakarta Japan Tokyo Macau Macau Malaysia Johor Bahru Kuala Lumpur Penang New Zealand Auckland Christchurch Philippines Makati City * Bonifacio Global City * Singapore Singapore (3) South Korea Seoul Taiwan Taichung Taipei (2) Thailand Bangkok Vietnam Da nang Hanoi Ho Chi Minh City Austr 18 Australia & New Zealand Of s * Associate Office

3 1 July 2018 An introduction to Savills Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. The company now has over 600 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. In Asia Pacific, Savills has 65 regional offices comprising over 25,000 staff. Asia Pacific markets include Australia, China, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand and Viet Nam. Savills provides a comprehensive range of advisory and professional property services to developers, owners, tenants and investors. These include consultancy services, facilities management, space planning, corporate real estate services, property management, leasing, valuation and sales in all key segments of commercial, residential, industrial, retail, investment and hotel property. A unique combination of sector knowledge and entrepreneurial flair gives clients access to real estate expertise of the highest calibre. We are regarded as an innovativethinking organisation supported by excellent negotiating skills. Savills chooses to focus on a defined set of clients, offering a premium service to organisations and individuals with whom we share a common goal. Savills is synonymous with a high-quality service offering and a premium brand, taking a long-term view of real estate and investing in strategic relationships. savills asia pacific services Asset Management Facilities Management Hotels Industrial Services International Residential Investment & Sales Occupier Services Office Services Project Management Property Management Research & Consultancy Residential Services Retail Services Serviced Apartment Services Valuation & Professional Services Assumptions: 1) 1 sq m = sq ft/ ping/ tsubo 2) As of 30 June 2018, USD/RMB = ; USD/HKD = ; USD/NTD = ; USD/JPY = ; USD/KRW = 1,121.7; USD/SGD = ; USD/MYR = ; USD/VND = 22,800; AUD/USD = ; USD/PHP = ; USD/IDR = 14,404 This report has been prepared to provide a benchmark of occupancy costs of selective prime properties in various cities in Asia, inclusive of rents, management fees and government taxes/rates. Except for the hotel sector, all the costs are quoted on a net floor area basis per month, which is defined as the floor area exclusively allocated to a unit, excluding common areas. As only a small basket of 5 to 10 prime buildings are monitored in each sector, the rental data and occupancy costs reported in this publication might be higher than the average market figures being reported elsewhere. Given varying local market practices, necessary assumptions and judgments are made by our real estate professionals in local offices to achieve comparable results among the different cities. savills.com.hk/research 03

4 OFFICES 1 July 2018 MARKET CYCLE JAKARTA HO CHI MINH CITY TOTAL OCCUPANCY COST (TOP 5 AVERAGE) HO CHI HO CHI MINH CITY JAKARTA CITY TOTAL COST RENT (US$ psm net eff. pm) MANAGEMENT FEE GOV T RATES/TAX I 17.6 I I Inclusive I I 7.7 I Inclusive 99.5 I Inclusive I Inclusive 72.3 I 23.4 I Inclusive I 9.5 I Inclusive 81.8 I Inclusive I I 0.6 I I 5.6 I Inclusive 58.9 I 4.3 I 2.9 HO CHI MINH CITY JAKARTA I 6.5 I Inclusive 41.7 I 6.5 I I Inclusive I I 6.9 I I 3.8 I I Inclusive I Inclusive 04 Survey Prime Benchmark

5 OFFICES 1 July 2018 COST CHANGES JAN-JUN 2018 Rental changes in US$ Rental changes in local currency (HKD) (JPY) (RMB) (SGD) (KRW) (RMB) (JPY) (AUD) (RMB) (NTD) (RMB) HO CHI MINH MINH CITY CITY (VND) (VND) JAKARTA (IDR) (PHP) JAKARTA (MYR) -20% -10% 0% 10% 20% 4.5% 5.0% 3.5% 0.4% 1.2% 2.7% 3.6% 5.6% -3.7% 0.9% -1.3% 0.1% 10.6% 7.3% -2.0% 5.9% 3.8% 5.4% -0.7% 0.8% 0.9% 2.4% 4.8% 4.8% -7.3% -1.4% -6.1% 0.6% 1.1% 0.6% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Beijing Hong Shanghai Kong Taipei Kong Tokyo Seoul Singapore Sydney US$ per sqm per mth net savills.com.hk/research 05

6 RETAIL MALLS 1 July 2018 MARKET CYCLE JAKARTA HO CHI MINH CITY TOTAL OCCUPANCY COST (TOP 5 AVERAGE) # HO CHI HO CHI MINH CITY JAKARTA ,000 1,200 1,400 CITY TOTAL COST RENT (US$ psm net eff. pm) MANAGEMENT FEE GOV T RATES/TAX # 1, ,187.5 I 31.2 I I Inclusive I I Inclusive I Inclusive I 12.8 I Inclusive I 13.4 I Inclusive I Inclusive I Inclusive I 8.9 I Inclusive I 12.2 I I 16.2 I Inclusive I Inclusive I 16.1 HO CHI MINH CITY JAKARTA I Inclusive I Inclusive I 16.0 I Inclusive 96.0 I 9.3 I I 13.6 I I Inclusive I I 5.0 I 2.5 # As prime retail mall rental figures are not available for Tokyo and Osaka, average prime high street retail rents are used instead. 06 Survey Prime Benchmark

7 RETAIL MALLS 1 July 2018 COST CHANGES JAN-JUN 2018 Rental changes in US$ Rental changes in local currency (HKD) (JPY) (SGD) (RMB) (RMB) (AUD) (RMB) (NTD) (RMB) (JPY) (MYR) (KRW) HO CHI MINH MINH CITY CITY (VND) JAKARA (IDR) (VND) (PHP) JAKARTA -20% -10% 0% 10% 20% 3.0% 3.4% 3.1% -1.9% -0.2% 1.2% -0.1% 1.4% -7.4% -0.7% 0.7% -10.1% -8.8% 5.1% 6.7% 10.7% 7.4% 0.5% -3.9% 0.6% 0.6% 0.6% -9.0% -3.3% 10.6% 10.6% -6.9% -0.2% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Hong Beijing Shanghai Kong Taipei Tokyo Seoul Singapore Sydney 1,400 1,200 US$ per sqm per mth net 1, # As prime retail mall rental figures are not available for Tokyo and Osaka, average prime high street retail rents are used instead. savills.com.hk/research 07

8 LUXURY APARTMENTS 1 July 2018 MARKET CYCLE TOTAL OCCUPANCY COST (TOP 10 AVERAGE) * CITY TOTAL COST RENT (US$ psm net eff. pm) MANAGEMENT FEE GOV T RATES/TAX * I 8.3 I I Inclusive I Inclusive 61.1 I Inclusive I Inclusive 40.9 I Inclusive I Inclusive 38.9 I Inclusive I Inclusive I Inclusive I Inclusive 27.9 I 2.6 I I Inclusive I Inclusive 30.3 I Inclusive I Inclusive 25.6 I Inclusive I Inclusive I 0.8 I Inclusive 20.3 I Inclusive I Inclusive 9.2 I Inclusive I Inclusive * Seoul s rent = (Security deposit x Interest rate) / 12 + Monthly payment 08 Survey Prime Benchmark

9 LUXURY APARTMENTS 1 July 2018 COST CHANGES JAN-JUN 2018 Rental changes in US$ Rental changes in local currency (HKD) (JPY) * (KRW) * -20% -10% 0% 10% 20% 3.7% 4.2% 4.6% 1.4% 0.2% 4.9% (RMB) (SGD) (RMB) 0.2% 1.7% -1.4% 0.5% 2.2% 3.7% (NTD) (JPY) -3.2% -1.7% 1.9% -1.1% (RMB) (AUD) (RMB) (PHP) (MYR) 5.1% 6.7% -2.5% 5.3% 0.3% 1.8% -6.1% 0.7% 1.4% 0.8% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Hong Beijing Shanghai Kong Tokyo Seoul Singapore US$ per sqm per mth net * Seoul s rent = (Security deposit x Interest rate) / 12 + Monthly payment savills.com.hk/research 09

10 VILLAS/TOWNHOUSES 1 July 2018 MARKET CYCLE TOTAL OCCUPANCY COST (TOP 5 AVERAGE) CITY TOTAL COST RENT (US$ psm net eff. pm) MANAGEMENT FEE GOV T RATES/TAX I 9.3 I I Inclusive I Inclusive 38.8 I Inclusive I Inclusive 33.2 I Inclusive I Inclusive I Inclusive I Inclusive 30.2 I Inclusive I Inclusive 25.9 I Inclusive I Inclusive 010 Survey Prime Benchmark

11 VILLAS/TOWNHOUSES 1 July 2018 COST CHANGES JAN-JUN 2018 Rental changes in US$ Rental changes in local currency (HKD) (AUD) -20% -10% 0% 10% 20% 6.4% 6.9% -7.4% (RMB) 3.2% 4.7% (RMB) -2.4% -1.0% (SGD) -2.2% -0.3% (RMB) -3.2% -1.9% (RMB) 1.0% 2.5% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Beijing Shanghai Singapore Hong Kong US$ per sqm per mth net savills.com.hk/research 011

12 LUXURY SERVICED APARTMENTS 1 July 2018 MARKET CYCLE HO CHI MINH CITY TOTAL OCCUPANCY COST (TOP 5 AVERAGE) HO CHI HO CHI MINH CITY CITY TOTAL COST RENT (US$ psm net eff. pm) MANAGEMENT FEE GOV T RATES/TAX I Inclusive I I Inclusive I Inclusive I Inclusive I Inclusive 92.2 I Inclusive I I Inclusive I Inclusive I Inclusive I Inclusive 80.7 I Inclusive I Inclusive 60.4 I Inclusive I Inclusive 60.0 I Inclusive I Inclusive 56.6 I Inclusive I Inclusive HO CHI MINH CITY I Inclusive I Inclusive 37.7 I Inclusive I I 3.2 I I Inclusive I I Inclusive I Inclusive 012 Survey Prime Benchmark

13 LUXURY SERVICED APARTMENTS 1 July 2018 COST CHANGES JAN-JUN 2018 (AUD) -20% -10% 0% 10% 20% -7.4% Rental changes in US$ Rental changes in local currency (HKD) (JPY) 1.7% 2.2% 4.7% 1.6% (KRW) (JPY) -2.5% 2.1% 10.6% 7.3% (SGD) (PHP) (RMB) (RMB) (RMB) (RMB) -6.8% -5.0% -6.1% 0.6% 0.6% 2.1% -2.4% -0.9% 3.7% 5.2% 1.3% 2.8% (VND) (NTD) -1.6% -1.6% -2.3% -0.8% HO CHI CHI MINH MINH CITY CITY (VND) (MYR) -0.3% -0.3% 0.5% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Hong Beijing Shanghai Kong Tokyo Seoul Singapore US$ per sqm per mth net savills.com.hk/research 013

14 HOTELS 1 July 2018 MARKET CYCLE HO CHI MINH CITY TOTAL OCCUPANCY COST (TOP 5 AVERAGE) US$ per room per night HO CHI HO CHI MINH CITY CITY ROOM RATE US$ per room per night HO CHI MINH CITY Survey Prime Benchmark

15 HOTELS 1 July 2018 COST CHANGES JUN 2018 YoY (JPY) -20% -10% 0% 10% 20% 15.3% 11.8% Rental changes in US$ Rental changes in local currency (AUD) (SGD) (HKD) -3.7% 3.9% 2.8% 0.6% 1.1% (JPY) (KRW) (NTD) 2.2% -0.9% 3.9% 2.2% -3.4% -3.4% (RMB) (RMB) (RMB) (PHP) (RMB) HO CHI MINH MINH CITY CITY (VND) 16.0% 13.3% 2.3% -6.9% -9.0% -10.8% 5.4% 4.1% 1.7% 11.6% 11.6% (VND) -12.2% -12.2% (MYR) 8.0% 1.6% TOTAL OCCUPANCY COST 2H/2007-1H/2018 Hong Beijing Shanghai Kong Tokyo Seoul Singapore US$ per room per night savills.com.hk/research 015

16 ASIA PACIFIC HEADQUARTERS 23/F Two Exchange Square, Central, Hong Kong Tel: (852) Fax: (852) ASIA PACIFIC EXECUTIVE COMMITTEE CEO, Greater China Contact: Raymond Lee Executive Chairman, Asia Pacific Contact: Robert McKellar CEO, South East Asia Contact: Christopher Marriott CEO, Asia Pacific (Ex Greater China) Contact: Christian Mancini COO & CFO, Asia Pacific Contact: Tim Robinson CEO, Australia & New Zealand Contact: Paul Craig SAR Savills (Hong Kong) Limited 23/F Two Exchange Square, Central, Hong Kong Tel: (852) Fax: (852) Contact: Raymond Lee EA Co. Licence: C Savills Valuation and Professional Services Limited 23/F Two Exchange Square, Central, Hong Kong Tel: (852) Fax: (852) Contact: Charles Chan EA Co. Licence: C Savills Property Management Holdings Limited Cityplaza One, 1111 King s Road, Taikoo Shing, Hong Kong Tel: (852) Fax: (852) Contact: Johnnie Chan jckchan@savills.com.hk EA Co. 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